To promote redevelopment of "brownfields" by providing Federal assistance for brownfield cleanups, and for other purposes.

Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA) to direct the Administrator of the Environmental Protection Agency (EPA) to establish a program to provide assistance for the environmental remediation of brownfield sites, with specified exceptions. Defines a "brownfield site" as a parcel of land that contains or contained abandoned or under-used commercial or industrial facilities, the expansion or redevelopment of which is complicated by the presence or potential presence of hazardous substances.

Authorizes the Administrator, upon approval of an application and with funds authorized to be appropriated from the Hazardous Substance Superfund, to make: (1) grants for site characterization and assessment; and (2) interest-free loans for environmental remediation (for purposes of making the site or sites available for manufacturing, business, or other commercial or residential purposes). Directs the Administrator to establish a system for the ranking of applications for assistance.

Deems a final EPA rule regarding lender liability issued on April 29, 1992, to have been validly issued pursuant to the authority of CERCLA and to have been effective according to the final rule's terms. Precludes jurisdiction of a court to review the rule.

Amends CERCLA to absolve from liability for response actions bona fide prospective purchasers to the extent liability at a facility for a release or threat thereof is based solely on ownership or operation of a facility. Directs the Administrator to issue guidelines explaining the criteria by which a person may qualify as a bona fide purchaser. Gives a lien upon a facility to the United States for unrecovered response costs in any case in which there are such unrecovered costs for which the owner is not liable by reason of status as a bona fide prospective purchaser and the response action increases the facility's fair market value above that which existed within six months before the action was taken.

Limits a fiduciary's personal obligations and liabilities for response actions with respect to ownership or operation of a vessel or facility to the extent to which the assets held in a fiduciary capacity are sufficient to indemnify such person, subject to certain conditions.